Construction cranes have become a common sight in downtown St. Petersburg over the past few years. An unprecedented growth spurt that began during the pandemic shows no signs of abating.

​Multiple much-anticipated developments, including the Residences at 400 Central and Art House condominium towers, are now welcoming residents following years of construction. However, a new year will bring a fresh slate of projects to the Sunshine City, and many will take shape away from the downtown core.

​Here are some planned or under-construction developments to keep an eye on in 2026:

​Historic Gas Plant District redevelopment

​The redevelopment of roughly 86 acres surrounding Tropicana Field will have a generational impact on St. Petersburg. Stakeholders expected to see a vibrant mixed-use and income community in place by now, in July 2024, when the city reached a historic agreement with the Tampa Bay Rays and its development partner, Hines.

​Stuart Sternberg exited an arduously negotiated deal in March 2025, after encountering hurricane-induced delays, and sold the team in late September. ARK Investment Management, Ellison Development and Horus Construction submitted a $6.8 billion redevelopment proposal to redevelop the Historic Gas Plant District about a week later.

​Mayor Ken Welch is considering the bid and will formally open a 30-day extension for additional offers on Sunday. St. Petersburg-based Blake Investment Partners, which submitted an unsolicited proposal in March, plans to present an updated vision.

​New York-based Red Apple Group, the development firm behind 400 Central, has also expressed interest in the massive project. Welch said Dec. 30 that he is “excited to see what we get there in addition to what I think is a strong proposal from ARK Ellison Horus.”

​“The one proposal that we have so far actually increases the amount of affordable housing, increases the minority participation,” Welch told the Catalyst. “So, it’s actually stronger than what we had with Hines and the Rays.”

​The Central

​Tampa-based Ellison Development is also building The Central about a half-mile away from the Trop, in St. Petersburg’s rapidly evolving EDGE District. The under-construction mixed-use development made headlines multiple times in 2025.

​Geoffrey Zakarian, star of “Iron Chef America, Chopped,” and “The Kitchen” on the Food Network, will helm The Central’s flagship restaurant. The development will also feature a 168-key Marriott Autograph Collection Hotel and a seven-story residential building with 42 workforce housing units.

​An 11-story office building, Halcyon, has ARK Invest as an anchor tenant. Stakeholders celebrated The Central’s 540-space public parking garage opening at 1301 Central Avenue in June.

​In September, Ellison announced that the structure’s rooftop garden would display a 76-million-year-old Gorgosaurus skeleton. However, vertical construction at The Central has seemingly stalled since the garage opened.

Derby Lane

​Sagi Genger, CEO of Rally Development, wants to transform the 131.5-acre Derby Lane site into an entertainment destination. The property at 10490 Gandy Blvd. was formerly home to a greyhound racing track and continues to host a poker room, markets and festivals.

​Genger and his team are now marketing the property and “trying to figure out what makes the most sense – both for the community and for us.” He called it the “most important site for development in the area” in late November.

​“This is a multi-100-million-dollar, if not a multi-billion-dollar, development project,” Genger said. “To have so many acres available in the middle of a metropolitan area is very, very unusual.”

​He expects to “reach conclusions” on the property’s future in February or early March, after reviewing proposals. He said the possibilities are “almost endless” for a site that has long been considered a potential home for a new Rays stadium.

​Sky Town

​Local leaders celebrated the commencement of construction on the most extensive mixed-income development in Pinellas County’s history in mid-October. The $800 million, multi-phased Sky Town Apartments will eventually feature 2,084 housing units, 80,920 square feet of commercial space, a 22,500-square-foot storage facility and 4,000 parking spaces at the southwest corner of 34th Street and 30th Avenue South.

​Altis Cardinal received $5.5 million from the county and $4.5 million from the city for Sky Town’s first phase, which includes 401 apartments, a Sprouts grocery store and nearly 12,000 square feet of retail space. The development firm will dedicate 60 units to households earning up to 80% of the area median income; 61 will have a 120% limit.

​“The Sky Town development marks a new era for the Skyway Marina District,” Welch said at the time. “This public-private project is an example of how forward-thinking investments can strengthen neighborhoods, attract workforce talent and expand opportunities for residents.”

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Mark Parker reports via St. Pete Catalyst. Republished with permission.